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Thanks for the replies so far. So, my understanding of this is that I could repay myself, however the interest on the $50k (i.e $50k out of $110k LOC) would not be tax deductable? Perhaps I'll try Tobe's suggestion of requesting a refund of the original $50k deposit.

Hi All, Long time forum lurker, first time poster! From what I have read so far this cannot be done, but any additional info would be useful. If I pay a cash deposit for an IP, can I then use a LOC to pay myself back once it is set up? Eg. $50k cash deposit paid LOC $110k (inc...